6312-6316 W Overland Rd
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6312-6316 W Overland Rd
19,277 SF 100% Leased Retail Building Boise, ID 83709 £2,238,333 (£116/SF) 6.25% Net Initial Yield
Investment Highlights
- Major East-West 5 lane road
- Great tenant signage
- 1/2 mile to Overland / Cole / I-84 interchange
Executive Summary
Total Shopping Center is 6200 through 6326 W. Overland . . . The Randolph-Robertson Center includes Aloha Spa on the West through Pronto Lube on the East. Separate legals make it easy to spin off Pronto Lube. That business owner would like to buy. 2 of the smaller tenants have been there for 3 or 4 years . . . the rest 15 to 20 years and not leaving. 100% occupancy. Sale due to partner deaths. First time for sale. Started developing in the 1950's including the large residential tract to the North. 1 of the buildings is new in about 2004. All have been refurbished several times. Listed Price / Cap rate based on 2023 income/expenses. 2024 income is up, expenses about the same. Won't have 2024 financials till end of January or so. Cap rate at listed price will then probably be 7+ or so. Undeveloped pad between buildings probably ready for another 3,000+ SF building. See listing package for tenant and leasing information.
Property Facts
Sale Type
Investment NNN
Sale Condition
Portfolio Sale
Property Type
Retail
Property Subtype
Building Size
19,277 SF
Building Class
C
Year Built/Renovated
1957/2005
Price
£2,238,333
Price Per SF
£116
Net Initial Yield
6.25%
NOI
£139,896
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Loading Docks
1 Exterior
Building FAR
0.20
Lot Size
2.19 AC
Zoning
MX-1 & MX-2 - Retail
Parking
5.5 Spaces per 1,000 SF Leased
Frontage
400 ft on Overland Rd
Amenities
- 24 Hour Access
- Pylon Sign
- Tenant Controlled HVAC
- Monument Signage
Walk Score ®
Very Walkable (72)
Bike Score ®
Very Bikeable (70)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | R7335510040 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £1,319,782 |
PROPERTY TAXES
Parcel Number
R7335510040
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£1,319,782
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Presented by
Winston Commercial Real Estate Services
6312-6316 W Overland Rd
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